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Did you know that a small difference in how interest is calculated can change your financial future significantly?
Whether you’re saving for a goal, repaying a loan, or investing in the future, understanding how interest works is key. Our Interest Calculator simplifies this for you—letting you quickly and accurately calculate both simple and compound interest. This isn’t just about numbers—it’s about smart decisions.
In this guide, we’ll explore how the tool works, break down interest types, and share use cases and pro tips to help you become a savvy money manager.
Simple Interest is calculated on the original principal only. It’s commonly used in short-term loans.
Formula:
SI = (Principal × Rate × Time) / 100
Example: If you invest ₹50,000 at 6% annual interest for 3 years:
SI = (50,000 × 6 × 3) / 100 = ₹9,000
Compound Interest is calculated on the principal and the accumulated interest over previous periods. It helps your savings grow faster.
Formula:
CI = Principal × (1 + Rate/100)^Time - Principal
Example: ₹50,000 invested at 6% compound interest for 3 years will grow to:
CI = ₹50,000 × (1.06)^3 - ₹50,000 ≈ ₹9,545
Why this matters: Over time, compound interest can generate thousands more in earnings.
Our tool simplifies everything. You enter:
Principal Amount (₹)
Interest Rate (% per annum)
Time Period (in years)
Type of Interest (Simple or Compound)
In seconds, you’ll see:
Total Interest Earned
Final Amount (Principal + Interest)
No need for manual math or spreadsheet formulas.
| Feature | Simple Interest | Compound Interest |
|---|---|---|
| Based on | Only principal | Principal + earned interest |
| Returns | Lower | Higher over time |
| Use Case | Short-term loans | Long-term savings |
| Complexity | Low | Medium |
| Interest Growth Rate | Linear | Exponential |
Estimate how much interest you’ll earn by saving ₹10,000 monthly over 5 years at 7% compound interest. A difference of even 1% in interest rate can result in thousands of rupees more or less.
Calculate the total interest you’ll repay on a ₹5,00,000 personal loan at 11% annual simple interest over 3 years. Compare this with compound interest to make a better borrowing choice.
If you’ve taken an education loan, calculate the actual cost by applying compound interest, often used in real student loan agreements.
Compare two investment options: one with 7% annual compound interest, the other with 6.5% quarterly compounding. See how much more you’ll earn over 10 years.
According to NerdWallet, investing ₹5,000 monthly at 8% interest can grow to ₹46.5 lakhs in 20 years.
A study by Investopedia shows that understanding compound interest can increase investment returns by 25%+ over time.
Interest Calculator
Compound Interest Calculator
Simple Interest Calculator Online
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Calculate Interest on Savings
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Table: Compound vs Simple interest earnings over 5, 10, 20 years
Chart: Monthly savings vs interest growth
Infographic: The Rule of 72 – How quickly your money doubles
Don’t let your money decisions be a shot in the dark. Use our Interest Calculator to take control of your savings, investments, or loan plans.
Try it now—it’s accurate, easy, and completely free!
Got feedback or questions? Drop a comment or share this tool with someone who needs it!